Within the framework of IPweek conference held in London, Russian oil company Rosneft and the government of Iraqi Kurdistan signed an agreement on the purchase of oil over the course of the years between 2017 and 2019.
“In accordance with the agreement’s conditions, the parties concluded a contract for purchase and sale of oil to the address of Rosneft within a period of between 2017 and 2019. The contract stipulates an advance payment. A trading branch of PJSC NK Rosneft – Rosneft Trading SА – will act as the product’s buyer,” the company’s press release says.
The contract was signed within the framework of an agreement concluded between Rosneft and the Kurdish government on cooperation in the field of exploration, production, infrastructure, logistics and trading of hydrocarbon.